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Gold fields probes BEE deal

March 14 2013 at 08:00am
By SAPA

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The board of Gold Fields had confirmed there were ongoing investigations into the black economic empowerment (BEE) deal at its South Deep mine, the gold producer said yesterday. “Gold Fields confirms that in December 2012, the company… commenced a thorough, independent investigation concerning its BEE transactions. The company took this action following press reports raising questions about those transactions.” Gold Fields said it had engaged international law firm Paul, Weiss, Rifkind, Wharton & Garrison to undertake the investigation. On Tuesday, Business Day quoted former Gold Fields chairwoman Mamphela Ramphele as saying the government had foisted a list of BEE shareholders on Gold Fields, with an ultimatum that if the preferred names were not taken on board it would be denied a mining licence. – Sapa


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